April Unemployment Slips to 8.1%

5/4/2012 10:23AM

The U.S. economy added 115,000 jobs in April, lower than expected, as the unemployment rate slips to 8.1%. Justin Lahart, Phil Izzo and Sudeep Reddy have details and analysis on The News Hub. Photo: Reuters.

This transcript has been automatically generated and may not be 100% accurate.

... the the ... it's the first Friday the monthly not that means is The payrolls report coming in right now on the wire ... hundred and fifty thousand jobs created in April we got Justin Lane our gear on Rolfe Winkler welcome to this up just in breakaway with Serbia dismay this number ... but it's a little bit ... slow but sure the consensus but not horribly so today hundred and sixty five thousand ... units in London and I do the unemployment rate went down to eight point one percent ... that the people thought that was due to stick to the point to sell ... again the odd that the two surveys say getting a little bit different message or wheat guide government jobs down about fifteen thousand month to month that continues ... kind of reversal of trip went well you know we we get new stuff started to get positive there ... in February that it got negative again ... however to look for average hourly earnings during a second ... aam ... the unemployment rate down despite that the weak jobs number with what's behind the chest and I'm not sure yet within a half to take a look and see what happened whether it was of was the weather was people even knew of the labor force were ... these are made from two different surveys and sometimes one survey will show more jobs created in the other we wanna move over to Washington to Sudeep Reddy there what I say ... this reminder for everyone it's an eight point one percent unemployment rate down from eight point two percent ... of the jobs number the hundred fifteen thousand is down relative to consensus which was at one sixty five ... city ... with the view from the from from Washington helpful but it but it ... was this clearly confirms the expectation that the economy was slowing weeks that the job market ... I was slowing this is the clear slowdown from earlier in the year it looks like the prior month's figure was I'm raises a little bit and so was revise a little bit upward which shows ... that we get the steady slow is being considered this ... a sharp drop off of course all these numbers are ... are ... subject to revision and so we could see in future months that this latest number for April was unnecessarily as bad as it looks to the Federal Reserve ... all this suggests that ... the Fed is still there remain on hold is given taking action but if you were to cease and continuing and ... a slowdown in this in this case even below a hundred thousand is probably due to restart a lot of the discussion about QE three about whether they need to ... restart another round of ... the nation Etsy pivotal back in January of course would wear in February with a win that ... we were starting to maybe see a reversal in the trend regular retreat we're creating ... upwards of three hundred thousand jobs ... maybe not quite a little over two hundred thousand ... died in December almost in a dozen January over twenty thousand if ever these were positive course than in March came back ... maybe maybe like this is a lot of this the weather ... Justin de think or ... I'm easily and has to be weensy but Donnelley seems that you mean you know so far we we did see ... a drop in the jobless claims on it that that that last week so that suggests that things are getting done contract ... this could be very interesting for the federal aid of a day or how much of a window to to to watch the new bond buying program ... of which election coming up and so forth so ... it's going to be in a very very sure curious to say I'm curious to see what they're going to have to say and do the greatest great let's get to see if Phil Izzo in overhear fell ... I don't back their house ... first ... tells LaVette about the revisions and then we might this is a Pollyanna Portland one good thing was that we saw above previous divisions the last month when up to about a hundred fifty thousand we were to report a one point about the good thing I mean the actual headline number is not terrible I mean some of the places where were seeing the declines construction wasn't declined the month and that was like just mentioned the weather effect ... we could've been adding those jobs earlier in of it earlier ... then usual so ... the the them of the people number looks a little bit worse from there was some live decline in construction like I said in a ... train station warehousing was another one ... the one that sort of troubling sign though is the unemployment rate ... it looks like it's them it's mostly people leaving the labor force the the the drop in the amount of people who wait for self ... knowledge of the number of people unemployed drop but the number people employee ... dropped in that in that ... in that match or so that's a little bit to start great great fell thanks so much will stick with you all day on Saturday Dec aam ... the mortgage month Sudeep let's get you back here ... still mentions that ... you know the unemployment rates down but it's not because the job creation it's because the work force participation rate ... exactly and there's been some expectation that people would be dropping out of the labor labor force as a result of unemployment benefits expiring if not they don't have unemployment benefits they might stop looking for work and that could push the unemployment rate down ... a bit so we went to look into the factors it's it certainly ... I'm not can it be I this early because of good things in flavor rates going out so it's going to be very hard ... for people to point to that as a sign of improvement ... of course in Washington with the political campaigns the Obama campaign is officially launching its outlets re-election drive ... on sadder day and that's can it be ... not exactly a great moment for that to go out there and say that that the jobs numbers are slowing down that the improvement ... isn't necessarily meeting on an upward slope it's it's not ... that I'm even as it has been and it's not really showing any signs of picking up the green on Lunch ... Break CD thanks so much will have more on the political implications from this for Laura Meckler comin' up